Buenos Aires
Banks and Money
Western Union and MoneyGram Suspend Transactions in Dollars in Argentina
Warning for U.S. Tourists
Exchange of Argentine Pesos into U.S. Dollars
U.S. tourists visiting Argentina have reported problems in exchanging Argentine pesos to U.S. dollars.
New Argentine exchange regulations decreed by President Cristina Kirchner placed restrictions on purchasing dollars and taking dollars out of the country. The new rules are causing banks and exchange houses to refuse to buy Argentine pesos from tourists.
It is strongly advised that all tourists keep original receipts proving the purchase of pesos at the official exchange rate. Banks and exchange houses may sell U.S. dollars to tourists with original receipts, but the sale will be in an amount equal to or lower than the amount purchased.
Currency Exchange at EZE International Airport
At Ezeiza International Airport, Banco Nación – located at the Arrivals Sector of Terminal A - is open for exchange operations 24 hours a day.
You will need to present your passport and boarding pass.
Argentine Peso
Argentina’s currency, the peso, was allowed to float in 2002, after a decade of being pegged to the American dollar at one-to-one exchange rate.
The Argentina peso comes in notes of 100, 50, 20, 10, 5 and 2 pesos; coins in 1 peso, 50, 25, 10 and 5 centavos. The $ sign is used to denominate Argentina pesos.
Counterfeit bills are often given as change in flea markets, bars and by taxi drivers. Please closely examine all bills given to you.
Buenos Aires Banks
Banks in Buenos Aires, Argentina are generally open Monday thru Friday 9am-3pm. Lines in
Buenos Aires banks can be long and confusing. Also, Argentina banking laws are restrictive and complex. Do not assume that your U.S. Citibank account will be accessible at an Argentina Citibank, because it won’t – they are not the same entity.
Buenos Aires ATM's
NOTE - Buenos Aires ATM's DO NOT dispense U.S. Dollars
ATMs are plentiful in Buenos Aires and are signed by the
BANELCO and LINK logos.
There is a scarcity of small bills and coins in Buenos Aires, which can be a problem for tourists. Cashing a $100 peso bill is difficult, and always impossible in taxis. Large grocery stores such as Disco are excellent locations for breaking large bills when making small cash purchases.
When withdrawing pesos from an ATM request $90 or $190 rather than $100 or $200, that way you don’t get all your money in hundred peso bills.
Currency Exchange in Buenos Aires
Most banks in Buenos Aires will no longer exchange foreign currency. Your best option to exchange money in Buenos Aires is a Casa de Cambio.
Banco de la Nacion has a branch in the international airport EZE, located just outside Customs, which is easy and convinient for exchanging money to Argentina pesos.
No Pesos? No Problem! Carrying a small amount of US$ is always handy. Many restaurants, clothing stores and grocery stores will take U.S. dollars at a reasonable exchange rate. You will lose a little on the exchange, but it is worth the convenience and you will receive your change in Argentina pesos, perfect for taking a taxi to your
Buenos Aires apartment rental.
Tipping
When dining in a restaurant you should tip at least
10% of the total bill. Tips can not always be included in the total when charging the bill to your credit card, and may need to be given in cash.
Locals generally do not tip taxi drivers, and it is not uncommon to see locals counting out the fare to the exact
centavo. But, if good service has been provided the driver will appreciate it if you round the fare up a few pesos to eliminate the hassle of giving back change.
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